RESTAURANT OWNER'S GAMBLER'S MENTALITY
As a restaurant broker I often get the honor of flying at 50,000 feet giving me a great view of the landscape and the nuances of the restaurant business. And over the years I've noticed restaurant owners and gamblers have a lot in common.
A gambler enters the casino dreaming of riches. The restaurant owner enters the restaurant business dreaming of riches as well. The gambler gets high when he wins. A restaurant owner gets high when the restaurant is full. The gambler gets depressed when he/she loses. The restaurant owner gets depressed when the customers don't walk through the door.
And just like a gambler, the restaurant owner wants to quit on those bad days but then seemingly from nowhere - and just like a gambler winning a few hands - the restaurant owner gets new energy and new big dreams because he/she had a good day or week - only to be disappointed the next day or week when no one shows up at the restaurant.
The restaurant owner who recognizes this syndrome and doesn't react to it will be successful.
Mel Jones is one of the premier restaurant brokers in the nation having published hundreds of articles on buying and selling a restaurant and bar business, selling thousands of restaurants in CA., WA and AZ and building one of the most copied business models in the brokerage industry. Mel started SellingRestaurants in 2004 with the one simple concept, give the buyers the information they need to make intelligent buying decisions without being pestered by a broker or hiding information, prepare the business for market by researching key details that make or break deals and educate the buyer on the buying process to create an intelligent buyer. Prior to SellingRestaurants, Mel was a Chief Financial Officer for Universal Music Group, the largest music company in the world. There he participated in more than $11.5 billion of merger and acquisition transactions. He also work for top companies such as Nestle Foods, USA. He hold a Bachelors in Business Administration Finance as well as attened Law School at Gonzaga University. Give Mel a call at 480.274.7000 or e-mail him at [email protected] if you have any questions.